Reinsurance News
PERILS ups industry loss figure for Sept Central Europe floods to €2.19bn
20th March 2025
Zurich-based catastrophe insurance data provider PERILS has disclosed its third industry loss estimate for the floods in Central Europe and Italy during September 2024, reporting a total of €2.192 billion. For those unaware, in mid-September 2024, the low-pressure system Boris (also known as Anett) brought prolonged heavy rain across Central Europe, ... Read the full article
Lloyd’s posts strong £9.6bn profit for 2024 despite rise in major losses
20th March 2025
2024 was another strong year for the specialist Lloyd's insurance and reinsurance marketplace, with profit before tax of £9.6 billion and a combined ratio of 86.9%, slightly up on the previous year's 84% amid a higher major claims ratio due to significant events in the year. Today, Lloyd's has released its ... Read the full article
IQUW introduces Active Assailant insurance in partnership with Crisis24
20th March 2025
Specialty insurer and reinsurer IQUW has introduced a new Active Assailant insurance offering in collaboration with Crisis24, a crisis response specialist. This product is designed to provide coverage for physical attacks perpetrated by individuals or groups using weapons like guns, knives, vehicles, or drones, aimed at inflicting harm, injury, death, or ... Read the full article
Finch to succeed Witherington as Manulife Asia President and CEO
20th March 2025
Manulife, an international financial services provider, has announced the appointment of Steve Finch as President and CEO of Manulife Asia, effective May 9th, 2025. The executive will be succeeding Phil Witherington who has been appointed Manulife's President and CEO, also effective May 9th. Finch currently serves as Manulife's Chief Actuary and has ... Read the full article
TMHCCI appoints Rebecca Eagles as Senior Underwriter, Marine Cargo
20th March 2025
Tokio Marine HCC International (TMHCCI), a subsidiary of the Tokio Marine HCC group of companies, has announced the appointment of Rebecca Eagles as Senior Underwriter – Marine Cargo. In her new role, Eagles will drive marine underwriting projects and support the growth of TMHCCI’s cargo business. She joins the Marine Cargo ... Read the full article
2024 a near record year for transactional risk insurance, reports Marsh
19th March 2025
Insurance broker and risk advisor Marsh has announced its second-best year on record for transactional risk insurance, having placed $67.8 billion in transactional risk insurance limits, a substantial 38% increase from the previous year. This growth was driven by a 33% rise in the number of policies placed, totalling over 2,750, ... Read the full article
Theresa Biedermann to lead BHSI E&P Lines Claims US team
19th March 2025
Berkshire Hathaway Specialty Insurance (BHSI) has announced the promotion of Theresa Biedermann to Head of Executive & Professional (E&P) Lines Claims in the US, a New York-based role. In her new role, the executive will oversee claims across all BHSI E&P Lines in the U.S., including Commercial (Public) D&O, Private D&O, ... Read the full article
Ping An P&C’s net profit swells 67.7% in 2024
19th March 2025
Ping An Insurance Company of China has disclosed that its property & casualty (P&C) segment achieved a net profit of RMB 15,021 million in 2024, marking a significant 67.7% increase compared to 2023. The segment maintained steady growth and strong business performance throughout the year, with insurance revenue for Ping An ... Read the full article
Matt Havey named President of Ryan Alternative Risk
19th March 2025
International specialty insurance firm Ryan Specialty has announced the promotion of Matt Havey to President of its alternative risk underwriting business, Ryan Alternative Risk. As part of this promotion, Kieran Dempsey, CEO of Ryan Alternative Risk, will separate the President role from his title. Havey joined Ryan Specialty in April 2024 as ... Read the full article
ZestyAI’s Severe Convective Storm Suite approved for use in five states
19th March 2025
ZestyAI, a company specialising in property and climate risk analytics, has secured regulatory approval for its Severe Convective Storm Suite in Oklahoma, North Carolina, Louisiana, Wisconsin, and Arkansas, the approval impacts over 12 million residential and commercial properties. Severe convective storms caused $58 billion in insured losses in 2024, making it ... Read the full article
Howden Ventures hires Octopus Ventures’ Luke Hakes as Partner
19th March 2025
Howden, a global insurance intermediary group, has announced the appointment of former Octopus Ventures partner Dr Luke Hakes as a Partner at Howden Ventures to accelerate its next phase of growth. Hakes, based in London, will work alongside Tom Hoad, Head of Howden Ventures, to co-lead the Howden Ventures team and ... Read the full article
Addresscloud launches first North American product
19th March 2025
Addresscloud, a geocoding and property intelligence expert, has launched its North American product, marking a major milestone in its global expansion. The product is designed to provide underwriters, exposure managers and data teams with precise, building-level risk insights. Addresscloud’s CEO, Mark Varley, said: “Our expansion into North America marks a pivotal moment ... Read the full article
Emerald Bay appoints Liberty Mutual’s Tracey Sharis as CEO
19th March 2025
Collaborative underwriting carrier Emerald Bay Risk Solutions has appointed Liberty Mutual Insurance’s Tracey Sharis as Chief Executive Officer (CEO), effective March 20th, 2025. Most recently, she served as the President, Global Risk Solutions for North America Programs at Liberty Mutual Insurance. Sharis has over 25 years of industry experience, leading and growing ... Read the full article
Allianz, BlackRock, and T&D Holdings partner to acquire Viridium from Cinven in €3.5bn deal
19th March 2025
A consortium led by Allianz, BlackRock, and T&D Holdings is acquiring Viridium Group, a platform in European life insurance consolidation, from Cinven, in a €3.5 billion transaction. Cinven, after more than a decade of guiding Viridium, will exit its majority stake in the business. Generali Financial Holdings and reinsurer Hannover Re will ... Read the full article
Marsh appoints Amy Barnes as Global Head of Energy & Power
19th March 2025
Marsh, the insurance broker and risk advisor under Marsh McLennan, has appointed Amy Barnes as Global Head of Energy & Power, effective immediately, based in London. Additionally, the broker has appointed Andrew Herring as Global Chair of Energy & Power, effective January 1st, 2026, based in London. Herring has been with ... Read the full article
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